Analysts Set SPX Technologies, Inc. (NYSE:SPXC) Target Price at $195.20

SPX Technologies, Inc. (NYSE:SPXC) has earned an average rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $195.20.

A number of brokerages recently commented on SPXC. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group raised their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, B. Riley began coverage on SPX Technologies in a research report on Thursday, May 15th. They issued a “buy” rating and a $195.00 price target on the stock.

Insider Transactions at SPX Technologies

In other SPX Technologies news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value of $1,043,987.23. Following the transaction, the director owned 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPXC. NBC Securities Inc. bought a new position in SPX Technologies in the first quarter valued at about $27,000. Eastern Bank acquired a new stake in shares of SPX Technologies during the first quarter valued at about $38,000. SVB Wealth LLC acquired a new stake in shares of SPX Technologies during the first quarter valued at about $39,000. Covestor Ltd boosted its stake in shares of SPX Technologies by 313.8% during the fourth quarter. Covestor Ltd now owns 389 shares of the company’s stock valued at $57,000 after purchasing an additional 295 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of SPX Technologies during the first quarter valued at about $57,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Down 0.6%

SPXC stock opened at $200.43 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 1.72 and a beta of 1.27. The business’s fifty day moving average price is $172.56 and its two-hundred day moving average price is $152.09. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $209.38.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to analysts’ expectations of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.42 EPS. On average, equities analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current year.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.